Minneapolis Portfolio Management Group LLC Boosts Stake in Terex Co. (NYSE:TEX)

Minneapolis Portfolio Management Group LLC raised its holdings in shares of Terex Co. (NYSE:TEX) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 454,016 shares of the industrial products company’s stock after buying an additional 747 shares during the quarter. Terex comprises about 2.8% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 21st largest position. Minneapolis Portfolio Management Group LLC owned 0.68% of Terex worth $20,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in shares of Terex by 46.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 704 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 222 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Terex by 26.8% in the 4th quarter. Blue Trust Inc. now owns 1,229 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 260 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Terex by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 83,035 shares of the industrial products company’s stock worth $3,838,000 after purchasing an additional 320 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Terex by 2.2% in the 4th quarter. New York State Common Retirement Fund now owns 22,130 shares of the industrial products company’s stock worth $1,023,000 after purchasing an additional 467 shares in the last quarter. Finally, Kendall Capital Management boosted its holdings in shares of Terex by 5.2% in the 4th quarter. Kendall Capital Management now owns 9,720 shares of the industrial products company’s stock worth $449,000 after purchasing an additional 480 shares in the last quarter. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Terex Stock Up 0.1 %

TEX stock opened at $39.11 on Monday. Terex Co. has a fifty-two week low of $36.15 and a fifty-two week high of $68.08. The business’s 50 day moving average price is $44.09 and its two-hundred day moving average price is $48.87. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.09 and a current ratio of 2.16. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 4.53 and a beta of 1.56.

Terex (NYSE:TEX) last posted its earnings results on Thursday, February 6th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. Terex had a return on equity of 21.99% and a net margin of 6.54%. During the same quarter in the prior year, the business posted $1.88 EPS. As a group, analysts forecast that Terex Co. will post 4.83 earnings per share for the current fiscal year.

Terex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Friday, March 7th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.74%. Terex’s dividend payout ratio (DPR) is 13.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial lowered their target price on Terex from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Citigroup lowered their target price on Terex from $48.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Barclays lowered their target price on Terex from $60.00 to $52.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. The Goldman Sachs Group lowered their target price on Terex from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their target price on Terex from $51.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.22.

Insiders Place Their Bets

In related news, Director Andra Rush purchased 1,325 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the purchase, the director now directly owns 23,308 shares of the company’s stock, valued at approximately $861,463.68. This represents a 6.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.